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If you are looking to apply for a loan in Los Angeles or trying to improve your credit score, it is essential to demonstrate that you are a financially stable person who can make on-time and regular payments. In case you are repaying your mortgage, your regular and timely payments could go a long way in improving not only your credit history, but also your credit score.

For homeowners in Los Angeles, this can be a real blessing. It is because the average price for a house in the six different counties which make up South California is about $460,000 at this time.

On the other hand, if you decide to rent, your rent payments often don’t count toward the credit score, even given that this may probably be your most significant monthly expenditure. Keep in mind that this discrepancy could put renters that do not have an established credit history at a big disadvantage.

Although residents of Los Angeles improved their credit scores by exactly the same number of points as those in Palm Springs and Phoenix, as they started out from a relatively higher number, their increase in terms of percentage was a little lower. That being said, a 2.14 percent change, to 670 from 656, is very impressive.

Also, the great news for LA residents is that nearly all generations are jumping on the “improve your score” bandwagon in order to better deal with their finances. Except the, so called Silent Generation, a lot of people in the city witnessed an improvement in their credit scores from 2011 to 2017.

People In LA Still Need Help With Credit Repair Issues

When you consider the generally improved credit score statistics, you may be tempted to think that all is well in the City of Angels. However, unfortunately, this is not true.

You also have to take into account people who have low incomes or individuals who have had a variety of credit issues for several reasons. This is why you, someone you love or your family member may not be living the best Los Angeles lifestyle. In addition, keep in mind that the rapidly increasing cost of living in LA can worsen things for you.

So, do not wait! Now is your time to engage the best credit repair professionals in the city and join the people who make it into the positive statistics.

it's about your credit

Understanding the Basics of Credit Repair/Score

Repairing your credit score means you want positive events to appear on your credit history and get rid of the negative ones. Your credit score is the quickest way of getting to know what shape your credit history is in. If an institution wishes to know your credit history in detail, they review your credit report.

The institutions that do that often include banks, creditor and any other entities that forward loans. A credit history that’s in good shape makes it easy for you to get the loan you have applied for.

As mentioned earlier, credit score is the quickest way to know what your credit history is like. There is good score, bad score and average score wherein bad score means there are lots of negative events on your credit history and vice versa. Equifax, Experian and TransUnion are the three major credit bureaus that prepare your credit reports and can send them to you upon your request.

What’s The Meaning Of Credit Repair?

In simple words, your credit score is an indicator of the health of your credit. Depending on the way you have dealt with your various debts in the past your credit score could be good, average or bad. Note that commercial banks, credit unions and other similar lending institutions will only extend a loan to you after they know how healthy your credit score and history is.

For these institutions, any loan to you is an investment in their books, and a bad credit score considerably increases the various risks, such as overexposure, associated with the investment. To put it simply, if you have a low credit score, it indicates them that their decision to lend you money can go awry.

But how do the banks know your credit score? Well, there are three major credit bureaus that keep a detailed record when it comes to all the debts you owe and how you’ve been repaying them. These are TransUnion, Experian and Equifax. You must have heard of them.

When you make your payments on time, it enhances your credit score. On the other hand, when you delay or miss your payments for any reason, they are recorded as negative financial events on your credit report and cause your credit score to decline.

credit repair in Los Angeles

Components That Make Up Your Credit Score

Now that you know how credit scores can affect you, you may be interested to know how you could maintain and improve your credit score to turn your life around. When it comes to improving and marinating a good credit score, the great news is that there are lots of things you can do to get your finances in control. These are the five key components of your credit score.

  • Your payment history
  • Owed debt or available credit
  • Length of credit history
  • Types of credits
  • Nature and number of credit inquiries
To determine your average credit score, the major credit bureaus consider all of these five variables. Keep in mind that they are record all your positive and negative events whether they are related to your car loans, credit cards, or home loans.

The available credit element indicates your financial health. It is not a good sign if you have exhausted all your available credit limits. If you have a diverse combo of different types of credits, it helps improve your score.

And do not think that you will have the best credit score if you have recently received your social security number as a brief credit history is not favorable.

Last but not least, do not apply for too many loans since high volume of credit inquiries isn’t good for your credit history or your credit score.

All Five Factors Make Up A Percentage Of Your Credit History

how credit scores work?

Length of Credit History

Generally, lenders prefer loan applicants who have a long and stable credit history. If you have a short credit history, they lack the information to determine how risky you are as a borrower if they do extend the loan. Keep in mind that credit history length makes up about 15% of your credit score.

Credit Card Types and Recent Inquiries

The recent credit inquiries lenders such as banks make into your credit history could affect it by up to 10%. Also, keep in mind that using many different kinds of credits could improve your credit score by a maximum of 10%.

Payment History

The factor with the most serious impact on your credit score is your payment history. When your payments are in good standing, you could boost your score by up to 35%. On the other hand, even a single missed payment on your outstanding debt can leave a big dent in your credit history.

Unpaid Debts

This is another serious variable as it affects your credit score by 30%. To keep your credit score positive, try to use just a small proportion of the total credit available to you. It is worth pointing out that payment history and available credit make up 65% of your total credit score, which is a lot!

Impact Of Credit Scores On Financial Products

credit cards

Your credit score can impact any credit-related financial products to a large extent.

In fact for loans, mortgages, credit cards and any other transaction in which lending is involved, your credit score will be considered a threshold that determines whether you get the funds or not.

If your credit score lies below 630 you will not be cleared for any funds, you may have to go the credit repair route for this.

What's Affects Your Credit Score?

Your credit score is not just determined by how much you have paid back or failed to pay, there are other components that also affect this rating. Your credit score will consist of the following components

credit cards

History of Payments

Burden of Debt

Length of Credit

Credit Type

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The Top Credit Misconceptions

Credit Score Takes Time to Go Down

You might think you have to make a lot of mistakes before there is a significant effect on your credit score but you are completely wrong. Your credit score can take a hit within a few months.

High Income Means High Credit Score

Your income does not have any impact on your credit score. It’s not about how much money you make but more about how well you manage the money. A person who makes only $3000 a month can have a better credit score than a person making $10,000 every month by managing their finances well.

Debit Cards Can Improve Credit Score

In simple words, it is your credit score, not debit score. Any prepaid and debit cards you take out will have no effect on your credit history.

It Is Best to Repair Credit on Your Own

Yes, credit repair companies charge you for their services, but keep in mind that their services are invaluable. A lot of the things your credit repair company will do can be done on your own but who will tell you what you have to do? You don’t want to go on a “hit and a miss” spree with your credit score. A professional repair company can do things within days that you will complete in months. They save you time and can look into things that you might not be aware of.

How To Keep A Good Credit Score?


Lexington Law Credit Repair will help all of those who are looking for a credit repair company.

Despite your financial expertise, credit repair is best left to a company with years of experience. One of your options, is to work with the trusted leaders in credit repair, Lexington Law Firm.

Lexington Law will evaluate your credit reports and customize a plan that is unique to your situation. They will also communicate to creditors and all three credit bureaus on your behalf. Past customers of Lexington Law have seen an average of a 40-point score improvement in the first four months of being on their service.

how does credit repair work

This is what you can expect

  • Work to improve your credit reports
  • Receive a free summary report and credit score
  • Talk with a credit consultant about your reports
  • Access online dashboard with updates

Lexington Law Firm’s Stories

credit repair Los Angeles review

You were very professional and willing to help with my situation. Lexington Law does not pass judgement and I can hear the care and concern of my situation. Sympathetic Joshua B

credit repair Los Angeles review

Results on solving my issues have been excellent. The Customer Support has been overwhelmingly fantastic! Choosing Lexington Law has been by far the best choice I could have made, I look forward to our continued success in repairing my credit.Gail L

credit repair Los Angeles review

Results have been fantastic! In such a short amount of time, I am so impressed with Lexington Law, I would recommend it any and everyone. We are hoping to have the credit to purchase a home this time next year. The client dashboard rocks, so informative.Andrea P

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You Will Be Able To

780 credit score
Work to improve your credit reports
780 credit score
Receive a free summary report and credit score
780 credit score
Talk with a credit consultant about your reports
780 credit score
Access online dashboard with updates